Nov 03, 2020
As the COVID-19 pandemic continues, financial institutions must remain vigilant in their evaluation of credit loss under either the incurred loss model or the new CECL model.
Sep 21, 2020
The SEC has finalized rules updating the statistical disclosures that bank and savings and loan registrants provide the investors.
Aug 24, 2020
The NCUA has issued a proposal that would allow credit unions to smooth the impact of adopting the new credit loss model known as CECL.
Mar 13, 2020
In February, agencies released a final interagency policy statement on the allowance for credit losses related to the implementation of the CECL methodology. Catch the highlights of the policy statement in this article along with other potential…
Dec 27, 2019
The U.S. Senate Appropriations Committee issued report language in the recently passed Consolidated Appropriations Act for Fiscal Year 2020 that includes a section directing federal financial regulators to conduct a study on the need, if any, for…
Dec 19, 2019
Given the magnitude of changes created by CECL, FASB has issued several subsequent amendments to clarify implementation and transition issues that are reflected in this white paper. FASB also established a Transition Resource Group (TRG) for Credit…
With CECL’s effective date for large SEC registrants approaching, FASB recently issued Accounting Standards Update 2019-11, which clarifies the accounting treatment on several issues—negative allowances, troubled debt restructuring transition,…
The SEC recently issued Staff Accounting Bulletin (SAB) 119, which updates previous guidance to reflect the new credit impairment rules in FASB’s Accounting Standards Update 2016-13, commonly referred to as CECL. SAB 119 updates methodologies and…
Nov 18, 2019
FASB has issued two accounting standards updates delaying the effective date for several major standards—Leases, CECL, Hedging and Insurance. Acknowledging the magnified challenges and costs for smaller entities when transitioning to a new guidance,…